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The great deleveraging cycle that began after the 2008-09 credit crisis is in full swing.U.S. households cut their debt burdens by 1% during the first quarter, according to the Federal Reserve Bank of New York . Household debt declined to $11.2 trillion compared with a peak of $12.7 trillion during the third quarter of 2008. Current debt levels are back to 2006 thresholds. The amount of mortgage debt (NYSEARCA:MBB) decreased to $7.93 trillion from $8.03 trillion and credit card balances also fell by $19 billion to $660 billion.However, total student debt increased to $986 billion from $966 billion.Not covered in the Fed's assessment of credit is margin debt, or the amount of borrowed money that investors are using to buy securities.In March 2013, NYSE margin debt rose to $379.5 billion, which is just shy of a mid-2007 peak near $381 billion.With major stock benchmarks like the Dow Industrials (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) hitting all-time highs, the fever to buy stocks - e...
Baidu Inc.'s (BIDU, K3SD.SG) first-quarter earnings increased 8.5% as the Chinese Internet-search company posted double-digit percentage revenue growth, though expen...
A top European Commission official said Tuesday banking reform in Europe remains an "essential priority.""The banking union cannot be completed overnight," said Olli...
Establishing a pan-European banking union is a "critically important next step'' to stabilizing that region's troubled economy, the influential head of the Federal R...
Goldman Sachs Group Inc. (GS) said director Stephen Friedman will retire before the firm's annual shareholder meeting in May, cutting the board's membership to 12 fr...
Every month, First Data releases the latest results of its SpendTrend analysis. This tracking study measures the total dollar value spent across the country in count...
Twenty-somethings are the poster children for student loan debt, but it's actually their grandparents who have the most cause for concern. Since 2005, debt levels ha...
A couple of years ago when memories of the credit crunch's pain was fresh -- and many were still suffering -- this column regularly covered the threat posed by card ...
U.S. stocks declined Monday, erasing gains that briefly had the S&P 500 index less than one point from its record close, as Wall Street worried about Europe's troubl...
U.S. stocks declined Monday, erasing gains that briefly put the S&P 500 Index less than 1 point from its record close, as investors worried that the plan for bank re...
The Federal Reserve Bank of New York said Friday Banco Popular de Puerto Rico leader Richard Carrion will take over a slot on its board vacated last year by J.P. Mor...
Attention high school seniors and parents: If you're picking a college, choose wisely. Or maybe rethink the traditional four-year college path all together.Degree an...
Maurice "Hank" Greenberg, the former American International Group Inc chief executive, has more than doubled the size of his class-action lawsuit against the United ...
U.S. households cut their debt loads broadly during the first three months of 2013, a report from the Federal Reserve Bank of New York says.The bank reported Tuesday...
U.S. households cut their debt loads broadly during the first three months of 2013, a report from the Federal Reserve Bank of New York says.The bank reported Tuesday...
American International Group Inc may pursue a lawsuit accusing Bank of America Corp's Countrywide unit of causing billions of dollars of losses by fraudulently induc...
American International Group Inc. (AIG) has the right to sue Bank of America Corp. (BAC) over more than $7 billion of mortgage-investment losses, a federal court jud...
American International Group Inc. (AIG) has the right to sue Bank of America Corp. (BAC) over about $10 billion in mortgage-investment losses, a California federal c...
The historic reduction in consumer debt since the start of the Great Recession has come substantially from households tightening their belts, not merely as a result ...
Baidu Inc.'s (BIDU, K3SD.SG) first-quarter earnings increased 8.5% as the Chinese Internet-search company posted double-digit percentage revenue growth, though expen...
